Clearbridge Investments LLC Has $4.83 Million Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Clearbridge Investments LLC cut its holdings in Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 44.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 699,045 shares of the company's stock after selling 555,651 shares during the quarter. Clearbridge Investments LLC owned about 1.42% of Cryoport worth $4,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CYRX. Cadian Capital Management LP lifted its stake in Cryoport by 30.4% during the fourth quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company's stock valued at $53,659,000 after purchasing an additional 807,340 shares during the last quarter. AXA S.A. lifted its position in shares of Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company's stock valued at $6,034,000 after acquiring an additional 639,855 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Cryoport during the 1st quarter worth $2,905,000. BNP Paribas Financial Markets grew its holdings in shares of Cryoport by 155.9% in the 1st quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company's stock worth $1,463,000 after acquiring an additional 50,355 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Cryoport during the second quarter worth $774,000. 92.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CYRX shares. Needham & Company LLC dropped their price target on Cryoport from $18.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. UBS Group dropped their target price on shares of Cryoport from $17.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group cut shares of Cryoport from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Finally, B. Riley raised shares of Cryoport from a "neutral" rating to a "buy" rating and cut their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.60.

Cryoport Stock Up 0.3 %

CYRX traded up $0.02 on Friday, reaching $7.89. 233,287 shares of the company traded hands, compared to its average volume of 590,869. Cryoport, Inc. has a 52-week low of $5.32 and a 52-week high of $20.10. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99. The company has a market cap of $388.64 million, a price-to-earnings ratio of -3.19 and a beta of 1.60. The stock's 50 day moving average price is $8.43 and its 200-day moving average price is $11.01.

Cryoport (NASDAQ:CYRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($1.25). The company had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The company's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted ($0.42) earnings per share. On average, sell-side analysts expect that Cryoport, Inc. will post -1.63 EPS for the current fiscal year.

Cryoport declared that its board has initiated a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 49.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Ramkumar Mandalam sold 4,167 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.04, for a total transaction of $33,502.68. Following the completion of the sale, the director now owns 56,032 shares in the company, valued at approximately $450,497.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 7,167 shares of company stock worth $60,363. Insiders own 10.10% of the company's stock.

About Cryoport

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.